Central Glass and Asahi Glass Co.: Japan Equity Preview

The following companies may have unusual price changes in Japanese trading today. Stock symbols are in parentheses, and share prices are from the previous close.

The information in each item was released after markets shut, unless stated otherwise.

Central Glass Co. (4044 JT): The glassmaker may post net income of 1 billion yen for the year ending March 2010 on lower production costs, the Nikkei newspaper said. The company forecast a 3.5 billion yen net loss for fiscal 2008. The stock slid 1.2 percent to 332 yen.

Asahi Glass Co. (5201 JT): The glassmaker said it will cease automotive glass production at its Kitakyushu plant in southern Japan because of low demand. The company said in a release that it will take a 5 billion yen ($51 million) charge for the closure, which is factored into its current earnings forecast, and relocate or buy out the plant’s 170 employees. The stock fell 4.5 percent to 556 yen.


600450 Central Glass and Asahi Glass Co.: Japan Equity Preview glassonweb.com
Date: 21 April 2009
Source: Bloomberg.com

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